In order to fully capitalize on these opportunities it was important that we take this strategic initiative to lower the landed cost to the end user of our products and therefore increase the overall revenue to Industrial Nanotech. Production will begin in Q1 2009.
Naples, Fla. (PRWEB) December 24, 2008
Industrial Nanotech, Inc. (PINK SHEETS: INTK), an emerging global leader in nanotechnology, today announced that the Company has signed a deal to manufacture its products in South Africa.
"Our representatives in this region have developed opportunities in the oil and gas and building construction market sectors in South Africa and surrounding African nations which present large enough revenue streams to justify manufacturing the product there to lower shipping costs and the burdens of import tariffs," states Stuart Burchill, CEO/CTO of Industrial Nanotech, Inc. "In order to fully capitalize on these opportunities it was important that we take this strategic initiative to lower the landed cost to the end user of our products and therefore increase the overall revenue to Industrial Nanotech. Production will begin in Q1 2009."
Nansulate(R) is the Company's patented product line of specialty coatings containing a nanotechnology based material and which are well-documented to provide the combined performance qualities of thermal insulation, corrosion prevention, resistance to mold growth, fire resistance, chemical resistance, and lead encapsulation in an environmentally safe, water-based, coating formulation. The Nansulate(R) Product Line includes both industrial and residential coatings.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is quickly emerging as a global nanoscience solutions and research leader. The Company develops and commercializes new and innovative applications for nanotechnology.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Industrial Nanotech, Inc.
For Industrial Nanotech, Inc., Naples The Cervelle Group, LLC Investor Relations: Rob Karbowsky, 407-475-9966, ext. 227 rob (at) thecervellegroup.com or Media Relations: David Donlin, 407-475-9966 dave (at) thecervellegroup.com